Wednesday October 7, 1970
. . . where the 1970s live forever!

News stories from Wednesday October 7, 1970


Summaries of the stories the major media outlets considered to be of particular importance on this date:

  • President Nixon's new peace plan for Indochina may include a cease-fire, increased troop withdrawals and an international peace conference for Southeast Asia; the Cambodian ambassador says that a cease-fire is unacceptable unless Communists get out of the country.

    North Vietnam rejected a cease-fire previously. [CBS]

  • Former French President Charles DeGaulle says that he warned John F. Kennedy that involvement in Vietnam would be endless. [CBS]
  • North Vietnam used nausea gas on Cambodians, killing civilians. [CBS]
  • Military money has doubled in value due to South Vietnam's devaluation of its currency. [CBS]
  • Left-wing general Juan Jose Torres now heads the Bolivian government; he is the third leader of the government in the last three days. [CBS]
  • The United Arab Republic's National Assembly has nominated Anwar Sadat to be President; Sadat is expected to win a national referendum. [CBS]
  • The president of Lebanon has appointed pro-UAR legislator Saeb Salam as Premier. [CBS]
  • French President George Pompidou met with Soviet Premier Alexei Kosygin in Moscow; the two leaders may sign a economic treaty. [CBS]
  • President Nixon is seeking laws against oceanic pollution. The Coast Guard would enforce the proposed legislation prohibiting dumping without a federal permit or dumping harmful materials, and would impose fines of up to $50,000. The dumping of explosives or poison gas would be prohibited by the new plan. [CBS]
  • The Federal Highway Safety Board proposed stiff laws against chronic drunken drivers. [CBS]
  • President Nixon appointed Dr. Elburt Osborn as director of the U.S. Bureau of Mines. [CBS]
  • The House passed President Nixon's anti-crime bill aimed at organized crime and campus bombers; it gives judges the right to give professional criminals an extra 25-year sentence and suspend the right to evidence and trial by jury. [CBS]
  • French-Canadian secessionists extended their deadline for demands to be met before they kill British diplomat James Cross; Cross' letter urged the government pay $500,000 ransom, free political prisoners and grant the kidnappers free passage out of the country. [CBS]
  • Ricardo Morton was arrested trying to board a Los Angeles flight with a 13-inch knife and a sawed-off shotgun; a metal detector found the knife. [CBS]
  • The International Pilots Association wants the right to boycott airports that don't meet anti-hijack standards; pilots also want bulletproof doors on cockpits. [CBS]
  • The FAA stated that the J. Richards Aircraft Company plane that crashed in Colorado didn't have a permit to carry passengers; company owner Jack Richards says that his company's planes are certified and in good shape. [CBS]
  • President Nixon signed the $5.2 billion public works bill but said there is too much pork in the barrel. [CBS]
  • The President will rest in Florida over the weekend. [CBS]
  • United Auto Workers president Leonard Woodcock reported that negotiations with General Motors will resume on Friday; the strike is 23 days old. [CBS]
  • U.S. Communist Party leader Gus Hall says he was glad about winning $500 in the New York state lottery, but that doesn't make him a capitalist. [CBS]


Stock Market Report

Dow Jones Industrial Average: 783.68 (+1.23, +0.16%)
S&P Composite: 86.89 (+0.04, +0.05%)
Arms Index: 0.74

IssuesVolume*
Advances6307.67
Declines6746.09
Unchanged3071.86
Total Volume15.62
* in millions of shares

Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish.

Market Index Trends
DateDJIAS&PVolume*
October 6, 1970782.4586.8520.24
October 5, 1970776.7086.4719.76
October 2, 1970766.1685.1615.42
October 1, 1970760.6884.329.70
September 30, 1970760.6884.2114.83
September 29, 1970760.8884.3017.88
September 28, 1970758.9783.8614.39
September 25, 1970761.7783.9720.47
September 24, 1970759.3183.9121.34
September 23, 1970754.3882.8316.94


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